Canadian, Chinese firms explore ways to boost business

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More than a hundred Chinese and Canadian entrepreneurs and officials have explored ways to remove barriers blocking businesses between China and Canada as the two-day second Canada-China Investment Summit in Vancouver closed on Monday.

The event, hosted jointly by the Canada China Chamber of Industry and Commerce and China Federation of Overseas Chinese Entrepreneurs, resulted in specific investment deals reached between Canadian and Chinese companies.

Canadian company Response Biomedical, which was found in 1992 in Vancouver and has been doing business in China over the last 10 years, signed a deal with a Chinese company to design and provide new heart condition diagnosis products directly into the Chinese healthcare market.

“It will help us do more research and development, more innovation. And working with that company will allow us to get that innovation and new product straight to the patients much faster, because they have the network to drive the physician education and get new technologies into the doctors’ hands in China and all tiers of the market,” Response’s CEO Barbara Kinnaird told Xinhua.

For its part, Joinstar Biomedical from China’s Hangzhou city, said the deal is their first investment into a Canadian firm. Tian Kun, from Joinstar Biomedical Technology, said the move would bolster the types and quality of healthcare technology they’ll take to market in China.

“From contact and response from Response Biomedical, we are overwhelmed with their development and research abilities, especially on the cardio-disease so that’s why we are working with Response Biomedical to hopefully bring the new technology to Chinese market,” Tian told Xinhua.

The investment summit follows a wave of bilateral deals between China and Canada, including the Foreign Investment Protection Agreement, which came into effect in October, and the creation of the first renminbi clearing house in Canada. Both moves aim to make it easier for Chinese and Canadian firms to do business.

British Columbia has been leading the way for Canada in trying to attract Chinese investment. Richard Lee, a lawmaker in British Columbia said about 95 percent of the region’s economy is comprised of small and medium-sized enterprises, adding that this summit offered a chance for several of those firms to link up with Chinese businesses.

“The big business have their own channel. But for small and medium-sized businesses, no matter in Canada, in British Columbia as well as in China, how to connect them together so that we have more opportunity for our trade, for export, for their import as well,” Lee said.

Participants at the summit expected bilateral trade between China and Canada will climb up much higher in the coming years, with firms in industries such as bio-tech, natural resources, and agriculture leading the way.

Alice Wong, a member of the Canadian parliament, told Xinhua that she believed the summit was very timely, mainly “because this is one of the investment summits right after our state visit to China and also the APEC.”

 

Source : China Daily | November 25, 2014

Thomas D’Innocenzi

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About thomasdinnocenzi

Thomas D'Innocenzi is a highly accomplished, results-focused senior international executive with extensive experience in global sourcing and market development worldwide to meet evolving business needs. Tom has proven ability in implementing and managing profitable global sourcing operations worldwide. Extensive experience in international market development operations to accommodate rapid growth. Skilled in building top-performing teams, benchmarking performance, and restricting organizations to improve efficiency, productivity, and profitability. Experienced transition leader and change agent. As principal of Nova Advisors, LLC I’ve assembled an exemplary team that brings with them the knowledge and experience gained from starting up a Global Sourcing program with multiple Fortune 500 companies as well as the largest supplier network throughout the Asia-Pacific region. We have experience and expertise in more than a thousand medical and pharmaceutical products in manufacturing and sourcing at the best value. The right product, the right price point and the right branding fueled these successes that resulted in double-digit growth for top line sales and bottom line net margins for our customers. What sets us apart: • Our reach includes a large network of suppliers & manufacturers spanning 13 countries in Asia-Pacific region • We understand the manufacturing process and the business of the supplier and the buyer • Our company culture is based on quality assurance and our process is based on local quality control Our commitment is to be your partner offering the best products and services at the lowest cost. Contact me to discuss how we can make the global marketplace work for you. thomas@novaadvisors.com In addition, I am open to discussing opportunities in global sourcing, international marketing & sales, logistics and medical/pharma in Thailand, Vietnam, Malaysia, Philippines & Japan. Aside from my work I enjoy piano, astronomy, physics, and assisting my daughters with their studies. SPECIALTIES: Global Sourcing, Supply Chain Management, Business Development, Marketing, Logistics, Global Networking, Market Development, Healthcare Solutions, Pharmaceuticals, Medical Devices, Technology, Asia, Southeast Asia, US and Canada
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